Several Asian refineries and petrochemical companies were forced to cut runs and declare force majeure as the U.S.-Israel war on Iran disrupted crude and feedstock exports from the Middle East.Asian steam crackers,
Several Asian refineries and petrochemical companies were forced to cut runs and declare force majeure as the U.S.-Israel war on Iran disrupted crude and feedstock exports from the Middle East.
Asian steam crackers, which source more than 60% of their naphtha feedstock from the Middle East, have been quick to declare force majeure on petrochemical supplies to customers.
Three operators told Reuters they are curtailing run rates to roll over some of their feedstock into next month so they can keep plants running and avoid shutdowns even if imports fall short.
It takes up to two weeks to restart a steam cracker unit, two operators said, and plants typically don't keep more than one month of feedstock on hand.
Here are some of the latest developments:
CHINA
Shell's south China petrochemical joint venture with China's CNOOC plans to shut a steam cracker soon and told domestic customers it is unable to supply some products, two people with direct knowledge of the matter said on Friday.
CNOOC and Shell Petrochemicals Co Ltd, or CSPC, plans to close a 1.2 million metric ton-per-year (tpy) cracker in Huizhou, one of its two crackers with total capacity of 2.2 million tpy, due to disruptions
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